Target Co. (NYSE:TGT) Position Lessened by KBC Group NV

KBC Group NV reduced its stake in shares of Target Co. (NYSE:TGT) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 86,978 shares of the retailer’s stock after selling 509 shares during the quarter. KBC Group NV’s holdings in Target were worth $13,557,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Financial Advocates Investment Management raised its holdings in shares of Target by 1.2% during the third quarter. Financial Advocates Investment Management now owns 5,736 shares of the retailer’s stock valued at $894,000 after buying an additional 67 shares during the last quarter. Beacon Capital Management LLC boosted its position in Target by 20.8% during the 2nd quarter. Beacon Capital Management LLC now owns 400 shares of the retailer’s stock worth $59,000 after acquiring an additional 69 shares during the period. Integral Investment Advisors Inc. grew its stake in shares of Target by 5.3% in the second quarter. Integral Investment Advisors Inc. now owns 1,382 shares of the retailer’s stock worth $203,000 after purchasing an additional 69 shares in the last quarter. Trust Co. of Vermont increased its holdings in shares of Target by 0.4% during the third quarter. Trust Co. of Vermont now owns 15,678 shares of the retailer’s stock valued at $2,444,000 after purchasing an additional 69 shares during the period. Finally, Bruce G. Allen Investments LLC raised its stake in shares of Target by 9.7% during the second quarter. Bruce G. Allen Investments LLC now owns 806 shares of the retailer’s stock valued at $119,000 after purchasing an additional 71 shares in the last quarter. 79.73% of the stock is currently owned by institutional investors.

Insider Transactions at Target

In related news, insider Richard H. Gomez sold 6,348 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the transaction, the insider now owns 123,551 shares of the company’s stock, valued at approximately $19,418,510.67. This trade represents a 4.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Cornell sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the sale, the insider now directly owns 303,843 shares of the company’s stock, valued at $48,210,768.81. This represents a 12.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,348 shares of company stock valued at $8,290,995 in the last three months. Corporate insiders own 0.15% of the company’s stock.

Target Price Performance

Shares of TGT opened at $152.13 on Friday. The business’s 50-day moving average is $152.56 and its 200-day moving average is $150.46. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.27. The company has a market capitalization of $70.08 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.00 and a beta of 1.24. Target Co. has a fifty-two week low of $127.19 and a fifty-two week high of $181.86.

Target (NYSE:TGT) last issued its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. Target had a net margin of 4.18% and a return on equity of 33.10%. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. During the same quarter last year, the business posted $1.80 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts expect that Target Co. will post 9.54 EPS for the current fiscal year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 2.94%. The ex-dividend date is Wednesday, November 20th. Target’s payout ratio is currently 46.28%.

Analysts Set New Price Targets

Several research firms have commented on TGT. Daiwa America raised shares of Target to a “strong-buy” rating in a research note on Monday, August 26th. Oppenheimer lowered their price objective on shares of Target from $200.00 to $180.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Jefferies Financial Group upped their target price on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Citigroup lifted their price target on Target from $180.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. Finally, UBS Group upped their price objective on Target from $185.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Target has an average rating of “Moderate Buy” and an average price target of $179.47.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.